United Spirits - Recovery Evident, Longer-Term Prospects Remain Attractive: Motilal Oswal

United Spirits - Recovery Evident, Longer Term Prospects Remain Attractive: Motilal Oswal

An employee boxes bottles of Johnnie Walker Black Label Scotch on the postponement line at the Diageo Plc International Supply Center and Technical Centre in Singapore. (Photographer: Nicky Loh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

We interacted with the management of United Spirits Ltd. for an update on overall market conditions. Here are the key takeaways:

  • recovery has been strong in recent months, with on-trade re-opening and off trade demand remaining healthy. Especially heading into Q3 FY22 (a historically important quarter for spirit consumption), the recovery is encouraging.

  • the ‘strategy refresh’ to be highlighted by the new chief executive officer in its Q2 FY22 result could entail positives on topline growth, an area where United Spirits has lagged expectations, even as it has done a commendable job on margin expansion and deleveraging.

  • activation of the Scotch portfolio in ~2,000 outlets across India, resulted in better availability and wider range in these outlets.

Click on the attachment to read the full report:

Motilal Oswal United Spirits Company Update.pdf
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This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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